Great new rates for Credit Card Terminal

November 11th, 2008 by Derek & Ryan

When we launched Credit Card Terminal, we received some feedback from small merchants that setting up the Authorize.Net® and merchant accounts for credit card processing was too complicated and too expensive, including some penalties that were hard on small merchants.

At this time, we’re very happy to announce that we’ve secured much better credit card processing rates for our Credit Card Terminal customers.

As a small business ourselves, we understand the importance of clear, predictable rates. And we hate paying for setup or termination — it puts a lot of pressure on up-front decision making instead of letting us try things out. We hope our new offering will make it easier and cheaper than ever to try Credit Card Terminal.

When you take advantage of our new Authorize.Net + Merchant Account sign-up, there are no application, sign-up, or termination fees, and no monthly minimum processing fee. Getting rid of the minimum processing fee is a big win for small merchants, since it results in a predictable monthly bill with no worries of paying penalties for months of low or no volume.

Here’s a comparison table, assuming you need to sign up for both Authorize.Net and a merchant account:

Up-front

Monthly*

Per-transaction

Per-transaction %

New Fees

$0.00

$25.00

First 250 $0.19
251+ $0.24

Qualified 2.09%

Old Fees

$99.99

$27.90–$52.90

$0.35

Qualified 2.19%

* Range in monthly fee reflects the $25 minimum processing fee as part of the old rates. The new merchant account has no monthly minimum, so there is no penalty for charging less on a monthly basis.